The Housing Crisis Affects Horse Farm Values in Ocala

Ocala Florida, founded in 1846, Florida is the seat of Marion County, known as the capital of the world's horses. Although thoroughbred horse breeding in this area is one of the primary businesses, it is surprising that the economic downturn began, Ocala, lacking the rest of the country would not survive is not felt.

In fact the current economic crisis in the United States housing bubble began to burst. Housing prices throughout most of the country had become overinflated, the fall in prices was predictable. But the accident was much worse than was anticipated by anyone.

As unemployment continues to rise nationwide, leisure and horse breeding and racing as an industry, the entertainment is centered around, perhaps more basic existence of industries that are related to the loss of more than feels. In fact, the recession, even food-related industries are being affected.

Ocala real estate is a mixture of houses and farms. Population has been growing steadily for the past twenty years there has been. In fact, Ocala Florida, the fastest growing areas of the country, and has been for many years.

Ocala Florida real estate market affected by the failing is. The average sales price of homes in Ocala 98,750 a 25.2% drop from $ 2,008 value, and $ 173,100 the average price of homes across the country is just about 50%. Are over 800 foreclosed property on the market.

Ocala horse farms and urban areas as much work as homes have not been killed. Horse farms around a small acreage parcel for $ 300,000 in cost hundreds of acres and extensive outbuildings to the multi-millions of dollars are up. Owning and raising horses is an expensive venture, and the weak economy has affected the industry. Although the number of farms raising horses for sale, really not much prices have gone down.

Horse farm industry barely covers the mortgage loans in the mortgage industry meltdown rule has always been fed agricultural land. This type of property buyers always have had to come to the table with substantial down payment. However, as a luxury type of business transaction in thoroughbred horses, horse sales revenue is expected to drop 25% this year, and it very likely impact the number of farms horses for sale in the spring.

In recent months, historically low mortgage rates, first time home buyer tax credit with a boost, increasing the number of real estate sales. A 63% this year as compared to this time last year in existing home sales have been increasing.

Also, because Ocala is prime real estate, two major cities nearby, and something at the crossroads of major freeways, it was for real estate investors are swooping very deflated property values.


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